Former Starkey Executive Guilty in $20 Million Embezzlement Case
MINNEAPOLIS (AP) — A former executive at hearing aid manufacturer Starkey Laboratories and a business associate have been found guilty of multiple counts in a $20 million embezzlement case.
Two other co-defendants were found not guilty Thursday.
The Star Tribune reports that former Starkey Laboratories president Jerry Ruzicka and W. Jeff Taylor, former president of Starkey supplier Sonion, were convicted for their roles in the scheme.
Former Starkey human resources chief Larry Miller and business associate Larry Hagen were acquitted.
Prosecutors accused the men of stealing stock, bonuses, and commissions from Starkey and owner Bill Austin over 10 years. Defense attorneys argued Ruzicka had Austin's permission to conduct business on his behalf. Austin testified Ruzicka didn't have the authority to make all the deals he did.